London is going to create a new management body for the British energy network to ensure the safety of its system and a transition to “ fluid
” carbon neutrality
, which will involve nationalizing the activities of the listed company National Grid.
This announcement is part of the new British energy strategy which is due to be unveiled in detail on Thursday.
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"
With high global wholesale gas prices and pressure on electricity grids following Russia's illegal invasion of Ukraine, consumers are facing rising costs and there is an urgent need to secure and boost national energy production
”, justifies the press release from the Ministry of Energy, Industry and Business (BEIS).
“
We are allocating the oversight of the UK energy system to a new public body
”, the Future system operator (FSO), for his part indicated the Minister for Energy, Industry and Business Kwasi Kwarteng on Twitter.
“
Our existing system is complex.
As we integrate more renewables and hydrogen into our grid, the new system operator will integrate the projects to ensure a smooth and low-cost transition
,” he added.
The FSO "
will take into account Britain's energy system as a whole, integrating existing networks with emerging technologies such as hydrogen
," the ministry statement said.
National Grid privatized in 1990
It notes in particular that the new operator will be based on the current electricity network operator (ESO), a subsidiary of National Grid, but also “
where appropriate, on National Grid Gas (NGG)
”.
"
We will continue to work closely with all parties to ensure a smooth transition, subject to parliamentary approval,
" National Grid chief executive John Pettigrew said in the statement.
The government and National Grid, which had been privatized in 1990, have so far given no details on the financing of this transfer of activities.
This news comes a few days after National Grid announced that it was selling 60% of its shares in NGG, for 4.2 billion pounds, to a consortium formed by the Australian investment fund Macquarie and British Columbia Investment Management Corporation. (BCI).
Kwasi Kwarteng and BEIS are due to reveal details of the new energy strategy on Thursday, which the minister has already outlined.
In the face of soaring energy prices which is accentuating a cost of living crisis in the United Kingdom, and renewed concerns about energy security and the independence of supply from Russia , London wants to strengthen the development of wind power, launch new nuclear power plants, give new impetus to the production of hydrocarbons in the North Sea, among other things.
